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Equinix Stock Hits New 52-Week High (EQIX)

Equinix (Nasdaq:EQIX) hit a new 52-week high Wednesday as it is currently trading at $144.82, above its previous 52-week high of $143.15 with 92,166 shares traded as of 9:40 a.m. ET. Average volume has been 696,100 shares over the past 30 days.

NEW YORK ( TheStreet) -- Equinix (Nasdaq: EQIX) hit a new 52-week high Wednesday as it is currently trading at $144.82, above its previous 52-week high of $143.15 with 92,166 shares traded as of 9:40 a.m. ET. Average volume has been 696,100 shares over the past 30 days.

Equinix has a market cap of $5.5 billion and is part of the technology sector and telecommunications industry. Shares are up 38.8% year to date as of the close of trading on Tuesday.

Equinix, Inc. provides data center services to protect and connect the information assets for the enterprises, financial services companies, and content and network providers primarily in the Americas, Europe, the Middle-East, Africa, and the Asia-Pacific. The company has a P/E ratio of 81.8, above the average telecommunications industry P/E ratio of 69.4 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Equinix as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full Equinix Ratings Report.